Oh yen, we wonder when…

We are taking a little break today. In place of my usual ramblings, below is an excellent article by Chris Fournier and Yasuhiko Seki of Bloomberg laying out the case for a weak yen based on the very ugly set of economic fundamentals and debt picture facing Japan.

Maybe USDJPY goes lower as institutional money is repatriated back into Japan given rising domestic risk. But sooner or later we think Japan’s economic fundamentals will feed into the currency in a big way.